Saxo Bank Reports 6% MoM Increase in FX Demand in November

Fazzaco learned that Saxo Bank, a retail FX and CFDs broker, has released its trading volumes for November 2022, revealing a positive increase in demand.

More specifically, Saxo Bank's total trading volume for the month came in at $400 billion, up by 6 percent compared with October's $432.2 billion. 

FX trading volumes for November reached $138.0 billion, increased by 8% on a MoM basis. Equities market also saw a slight increase in demand, bringing a total of $278.9 billion in monthly volumes. By contrast, commodities markets and fixed income market reported a decline in demand, bringing a total of $32.1 billion and $9.4 billion in monthly volumes, respectively.

Moreover, Saxo Bank registered a YTD average monthly volume of $404 billion, showing a YoY increase of 31% compared to 2021's $308 billion.

As Fazzaco previously reported, Saxo Bank has extended FX Options expiries​, with the relaunch of FX Options contracts for the tools below: CAD/CHF, CHF/JPY, CHF/NOK, EUR/CHF, GBP/CHF, and USD/CHF, with maturities of up to one year.